Mezzan Holding to debut on KSE on June 11

28/05/2015 01:52 AST

Mezzan Holding KSCC, one of the largest manufacturers and distributors of food, beverage, FMCG, and pharmaceutical products in the Gulf, announced Wednesday the company’s shares will be listed on the Kuwait Stock Exchange (KSE) on June 11.

Established in the early 1940s, the company distributes over 25,000 stock keeping units (SKU) and operates in seven countries, making it a market leader in terms of SKUs, unit sales, market share, and in terms of share of revenues of total consumer spending in consumer categories served by Mezzan Holding. Once listed, the company will be the 13th largest KSE-listed company by revenue, based on full-year 2014 results.

Mezzan Holding Chairman, Khalid Jassim Al Wazzan, said: “On behalf of the board, I am pleased to announce that after three years of planning and preparations Mezzan Holding will be listing on the Kuwait Stock Exchange and further enhancing its position as a pillar of the Kuwaiti economy. Mezzan Holding’s success is an unwavering testament to strength and depth of Kuwait’s private sector.”

The company had appointed Watani Investment Company KSCC (NBK Capital) as a exclusive financial advisor and lead manager for the secondary offering of 30% of the company that was successfully concluded on May 12 of this year. The placement was oversubscribed by two times as it presented investors with the unique opportunity to invest in a company with deep access to the Gulf’s food and FMCG sector; a sector that is not only defensive by nature, but also a sector that is controlled by a handful of private, family-owned companies. NBK Capital is also acting as listing advisor to list Mezzan on the Kuwait Stock Exchange.

Mezzan’s offering generated strong demand from local retail investors, private companies, and global institutional investors.

Saudi Gazette